On average, Certified Management Accountants (CMA®) earn salaries about 18% higher than non-certified peers in accounting and finance. The demand for CMAs has increased significantly during the past 5 years, and CMAs continue to be highly sought after in today’s competitive job market.
The Institute of Management Accountants (IMA) conducts detailed global and regional salary surveys frequently to evaluate CMAs’ pay, career satisfaction, and overall relevance across the accounting and finance industries. These reports break down key compensation information and identify the factors that drive this data. The latest IMA Salary Survey provides insight into workplace changes and how certification translates to value in today’s market.
Average CMA Salary by Region
The CMA is a globally recognized certification, acknowledged in more than 100 countries. As such, salaries vary widely depending on the region and local cost of living. In the 2023 IMA Global Salary Survey, the Americas and Europe reported the highest compensation levels, while the CMA premium remains strong across all regions.
| Region | Base Salary (Mean) | Total Compensation (Mean) |
|---|---|---|
| Americas | $129,961 | $153,874 |
| Europe | $104,369 | $124,024 |
| Asia Pacific | $36,985 | $44,548 |
| Middle East/Africa/India | $32,878 | $39,584 |
| Global Average (All) | $69,427 | $82,670 |
[Source: 2023 IMA Global Salary Survey]
The “CMA Premium”
Globally, the difference between having a CMA and not having one is substantial.
- Global Premium: CMAs earn a median total compensation that is 21% higher than non-CMAs.
- Regional Premiums: The value of the certification varies by market. In Europe, CMAs earn a premium of approximately 45% over non-certified peers, while in the Middle East/Africa/India region, the premium is 39%.
CMA Impact on Salary and Beyond
While CMAs are well-compensated for their services, other perks identified in the survey include flexibility to move across industries, job performance bonuses, and improved job satisfaction.
- 55% of employees reported that their salaries increased after the pandemic
- 71% reported that CMA credentials helped them move across industries
- 69% said that obtaining a CMA certification improved career opportunities/promotion
- 84% of CMAs reported that they would refer the Certified Management Accountant credential to their friend or colleague
Factors Determining CMA Salary
CMA salaries vary across regions, positions, and industries. However, CMAs generally earn more than their non-certified peers at every stage of their career.
Country
The CMA is a global certification. The requirements for earning this designation are uniform worldwide, and organizations in all major financial hubs recognize the value of leadership in management accountancy. As CMAs practice in over 100 countries, salaries vary widely depending on the region and the overall cost of living.
According to the 2023 Global Salary Survey, regions with the highest compensation among CMAs include the Americas and Europe.
| Region | Base Salary | Total Compensation | ||
|---|---|---|---|---|
| Mean | Median | Mean | Median | |
| Americas | $129,961 | $120,000 | $153,874 | $132,000 |
| Asia Pacific | $36,985 | $26,092 | $44,548 | $29,686 |
| Europe | $104,369 | $90,661 | $124,024 | $98,298 |
| Middle East/Africa/India | $32,878 | $16,000 | $39,584 | $19,200 |
| All | $69,427 | $45,873 | $82,670 | $54,398 |
Job Position
CMAs have various career options as they advance up the career ladder across different industries. With deep knowledge of management accountancy, business acumen, and leadership skills, CMAs often rise faster than non-certified peers to top management roles. This ability to ascend to leadership positions quickly gives CMAs a competitive edge, in terms of compensation, over other accountants.
The most significant pay difference indicated in the 2023 Global Salary Survey is between middle and senior-level management, which typically includes mid-career and later-career roles. Senior managers earn an average of 15% more than middle managers.
| Total Compensation | |||||
|---|---|---|---|---|---|
| Management Level | Americas | Asia Pacific | Europe | Middle East/Africa/India | All |
| Top Management | $195,000 | $68,787 | $191,988 | $57,225 | $135,000 |
| Senior Management | $150,000 | $50,734 | $116,273 | $53,885 | $125,000 |
| Middle Management | $122,000 | $34,394 | $93,978 | $24,582 | $49,867 |
| Lower Management/Entry-Level | $92,030 | $18,844 | $61,276 | $10,892 | $22,873 |
| Academic Position In College or University | $117,200 | $21,711 | $72,105 | $13,318 | $72,737 |
Source: 2023 IMA Global Salary Survey
Industry
CMAs work in various industries, including financial services, healthcare, education, manufacturing, and government. They utilize their financial and accounting expertise to help drive and maintain healthy businesses. CMAs are highly sought-after professionals, with the highest median salary among government/military personnel.
| Industry | CMA Salary |
|---|---|
| Government/Military | $93,165 |
| Non-Profits | $87,500 |
| Healthcare | $74,338 |
Source: 2023 IMA Global Salary Survey
CMA vs. Non-CMA Salaries
CMAs continue to make the most of their certification by bringing in a premium of 18% over their non-CMA peers. The 2023 survey reveals that CMA certification is highly valued by early-career professionals worldwide. Nearly half of all IMA members, 49% specifically, report an increase in salary after obtaining the certification. However, CMA premiums are highest in Europe (45%) and the lowest in the Asia-Pacific region (11%).
| Region | Base Salary (Mean) | Total Compensation (Mean) | CMA Premium | |||
|---|---|---|---|---|---|---|
| Non-CMA | CMA | Non-CMA | CMA | Base Salary | Total Compensation | |
| Americas | $114,190 | $137,137 | $131,770 | $163,932 | 20% | 24% |
| Asia Pacific | $33,895 | $37,600 | $39,893 | $45,475 | 11% | 14% |
| Europe | $79,238 | $115,014 | $95,093 | $136,277 | 45% | 43% |
| Middle East/Africa/India | $26,740 | $37,222 | $32,209 | $44,803 | 39% | 39% |
| All | $61,730 | $72,549 | $72,102 | $86,955 | 18% | 21% |
Source: 2023 IMA Global Salary Survey
Considering Age and CMA vs. Non-CMA Salaries
Regarding age parameters, median salary premiums are highest for Generation Z (41%) and the lowest for Generation X (10%). IMA members in their 20s and 30s experience the most significant gains from the CMA certification. Here’s how much you’d earn as a Gen Z entering the market as a CMA, compared to Gen X and other generations.
| Age Group | Non-CMA Median Base Salary | CMA Median Base Salary | CMA Premium |
|---|---|---|---|
| 58 or Older | $125,000 | $140,000 | 12% |
| 43-57 | $91,000 | $100,025 | 10% |
| 27-42 | $32,675 | $38,856 | 19% |
| 26 or Younger | $7,860 | $11,100 | 41% |
Source: 2023 IMA Global Salary Survey
CMA vs. CPA Salaries and Dual Credentials
Many accounting professionals hold dual CMA and Certified Public Accountant (CPA) credentials. While the average salary for both CMA and CPA is similar in the United States, the difference varies in other markets and countries. However, in each case, dual certification offered higher earnings.
| Median Base Salary | Neither | CMA Only | CPA Only | CMA and CPA |
|---|---|---|---|---|
| Americas | $99,375 | $120,000 | $126,274 | $137,800 |
| Asia Pacific | $26,030 | $24,763 | $27,600 | $32,164 |
| Europe | $69,979 | $93,644 | $57,063 | $108,660 |
| Middle East/Africa/India | $12,093 | $16,000 | $36,333 | $40,029 |
| All | $36,417 | $41,272 | $91,806 | $99,500 |
Source: 2023 IMA Global Salary Survey
Why Stack CMA and CPA Credentials?
While the CMA certification gives you a competitive advantage in management accounting, stacking it with a CPA license is doubly advantageous. As a CMA and CPA, you combine your strategic management acumen with solid accounting and analytical skills. The result is higher pay, a better professional network, and faster career progression.
- Higher earning potential: The 2023 IMA Global Salary Survey found that accounting professionals with both CMA and CPA credentials earn at least 10-20% more than their peers.
- Better professional network: IMA and the American Institute of Certified Public Accountants (AICPA) are global networks for CMA and CPA professionals. They organize workshops, seminars, and meet-ups for candidates and certified individuals to connect, seek mentorship, and participate in professional development events.
- Faster career progression: Pursuing 2 demanding certifications early in your career signals that you’re ambitious and capable of tackling multiple challenges. Your likelihood of qualifying for the next promotion increases drastically as you demonstrate your technical and strategic acumen.
Frequently Asked Questions (FAQs)
Is a CMA certification worth it globally?
Yes. The CMA is a globally recognized credential. With a global median total compensation premium of 21% over non-certified peers, the certification offers a strong return on investment. Multinational corporations highly value it for roles in financial planning and analysis (FP&A).
Does the CMA increase salary for early-career professionals?
Yes, significantly. The 2023 IMA Salary Survey found that the salary premium is highest for younger professionals. For Gen Z (under 26), CMAs earn a median salary premium of 41% compared to their non-certified peers, proving it is a powerful accelerator for starting careers.
Which region pays the highest CMA salaries?
The Americas region reports the highest average compensation ($153,874 total), followed by Europe ($124,024 total). However, the relative value of the certification (the percentage increase over non-CMAs) is often highest in developing markets and Europe.
How does the CMA salary compare to the CPA salary?
In many regions, such as Europe and the Americas, CMA salaries are competitive with or exceed those of CPAs for specific roles. However, holding both credentials consistently yields the highest median base salary across all major regions.
